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Loan Modification

: Loan Modification & Home Loan News

Does a Loan Modification Reduce Your Credit Score?

By Moe Bedard

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Homeowners who get a loan modification may find an unintended side effect, a drastically lower credit score. While some credit impact is allowed under the federal Making Home Affordable program, 12 News found banks sometimes ignore the rules. That can cause lasting financial problems for families. Tim Suchecki says his score dropped 200 points while he [...]

Full post as published by Loan Modification & Home Loan News on April 13, 2010 (boomark / email).

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